PNC Completes BBVA USA Acquisition - Banker & Tradesman
bankerandtradesman.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bankerandtradesman.com Daily Mail and Mail on Sunday newspapers.
PNC completes BBVA acquisition, catapults its Denver market share
bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
PITTSBURGH PNC Financial Services Group Inc. (NYSE: PNC) completed its $11.6 billion acquisition of BBVA USA Bancshares Inc. as of Tuesday.
BBVA, which had about $104 billion in assets, operated 637 branches in Texas, Alabama, Arizona, California, Florida, Colorado and New Mexico. Locally, the bank had locations in Boulder, Fort Collins, Greeley, Lafayette, Longmont, Loveland and Westminster.
PNC now holds $5.6 trillion in assets and is the fifth largest commercial bank in the United States. The BBVA deal gives PNC a coast-to-coast bank branch footprint.
“Our acquisition of BBVA USA accelerates our national expansion and positions us to increase shareholder value over time by bringing our industry-leading technology and innovative products and services to new markets and clients,” PNC CEO William Demchak said in a prepared statement. “We are grateful to our thousands of colleagues across the combined organization who have worked tirelessly to help achieve this major milest